Business - Coventry Public Schools

Introduction to Business

Units

The Economic Environment

Students identify important economic concepts that determine the products and services available for consumers and how economic systems are structured.
Students explain the difference between needs and wants, distinguish between goods and services, and describe the types of economic resources.
Students differentiate among the main types of economic systems, and describe the economic system of the United States.
Students describe supply and demand and their impact on prices of products and services.
Students discuss the types of measures used to gauge economic activity and business conditions in our society.
Students define gross domestic product, describe economic measures of labor, and identify economic indicators for consumer spending.
Students identify the importance of interest rates, discuss investment activities that promote economic growth, and explain borrowing activities by government, businesses, and consumers while describing future concerns of economic growth.

Businesses in Our Economy

Students examine the forms of business ownership.
Students explore the important principles in designing an effective organization and compare alternative organizational structures for businesses.
Students describe the role that small business plays in the U.S. economy and explain how to start and manage a small business.
Students identify characteristics of successful entrepreneurs and recognize the competitive advantages of small businesses and identify problems they may face.
Students describe the elements of a business plan and identify types and sources of financing for a small business.

Business Management and Leadership

Students identify the role of management in organizational success.
Students list and define the five functions of management, explain the two basic management styles, and describe the levels of management in businesses.
Students justify the need for ethical management and identify the role of leaders in increasing ethical behavior.
Students explore financial planning decisions and procedures used in business.
Students list the steps in budget preparation and describe three types of business budgets.
Students identify several types of financial records needed by businesses and describe the differences between an income statement and a balance sheet.
Students describe the components of a business’ payroll system and identify information included in payroll records and paychecks.
Students describe the role and importance of human resources and describe how to manage a diverse workforce.
Students identify essential planning and staffing activities and describe compensation and benefits plans. They recognize the goals of performance management and factors that contribute to an effective organizational culture.
Students describe the variety of career opportunities in business and demonstrate how to prepare a career plan and apply for and secure a job.

The Global Economy

Students examine the role economics plays in the development of international business.
Students describe importing and exporting activities and compare the balance of trade and balance of payments.
Students list factors that affect the value of global currencies and describe the components of the international business environment. They identify examples of formal trade barriers and explain actions to encourage international trade.
Students describe how businesses can make socially responsible decisions and explain the role government plays in regulating business activities.
Students identify the roles and levels of government and explain government protection activities and identify methods used by the government to raise money.

The Role of Customers

Financial Management

Business Management

Units

The Business Environment

Students define business ethics and social responsibility.
Students research and explain why high quality and efficiency standards are necessary to compete in the global marketplace.
Students evaluate economic relations between the U.S. and Mexico and the U.S. and Canada by investigating topics such as NAFTA, foreign-made products, and cultural differences.
Students evaluate different forms of ownership as a business evolves using a hypothetical business such as a local clothing store, restaurant, hair salon, etc.
Students analyze government regulation of businesses by researching the institution of various laws, such as income taxes, zoning, personal property protection, etc.

Leadership and Management Functions

Students explain the decision-making process to business applications.
Students identify management levels and evaluate and modify a time management plan.
Students evaluate the importance of vision, mission, goals, and objectives within the context of the business environment.
Students discuss the characteristics of effective and ineffective leaders and analyze the management skills of today’s business leaders by researching the careers of famous business leaders.
Students discuss the interrelationships of a variety of organizational structures.
Students identify motivation theories that impact management and compare the development of management skills through education, experience, or a combination of both.

Human Resources Management

Students study activities of the human resource unit, identifying legislation affecting the recruitment and selection process (affirmative action, right to privacy, and Americans with Disabilities Act).
Students create and evaluate job descriptions, job applications, and resumes.
Students describe the purposes of employee evaluations. They identify compensation plans, benefits packages, and incentive programs available to employees.
Students describe legal reasons for terminating employees. They describe the common elements of a labor contract and explain the role of labor unions and the process of collective bargaining.
Students analyze laws that protect workers by expanding employment opportunities and regulating discrimination and equal employment opportunities.

Information and Communication Systems

Students discuss the advantages and disadvantages of e-business.
Students evaluate existing business websites and outline the steps for starting a new e-commerce business, determining the technology and promotional strategies needed to operate it.
Students identify problems that prevent effective communication in business.
Students describe the advantages and disadvantages of networking to achieve professional goals.

Financial Management

Students describe the purpose of financial statements.
Students assess the short-term and long-term financial needs of a business and interpret the data shown on financial statements, such as the income statement, balance sheet, and statement of cash flows.
Students describe methods of financing a business, such as equity capital, retained earnings, and debt capital.
Students evaluate various financial services available to businesses.

Accounting I

Units

Introduction to Financial Statements

A Further Look at Financial Statements

The Accounting Information System

Students research and explain in a short narrative the four sections that the SEC requires in an annual report and why.
Students conduct a research project on a major global financial commodities brokerage firm that went bankrupt.
Students focus on the Corzine rule, specifically: who is the securities regulator that approved the rule, what are the major elements of the rule, and what other brokerage firms had similar problems to the firm they are studying.

Accrual Accounting Concepts

Merchandising Operations and Income Statement

Students locate the financials of a famous, specified company.
Students use the company's financials to report over a period of time if the company’s balance of merchandise inventory accounts increases or decreases.
Students explain if the company’s accounts are payable for the same period increase or decrease and explain the correlation between merchandise inventory and account payable.
Students write a reflective summary as to why they think the changes occurred and compare their findings to a competitor of their selected company.

Reporting and Analyzing Inventory

Students work individually on the financial statements of a major supermarket, answering why the business needs to state inventories at the lower of cost or market, which cost flows assumptions they use, and why.
Students research the cost of shoplifting on a business and explain how a business covers the losses from shoplifting and where the cost of shoplifting shows up on the income statement.
Students examine three different companies in three different markets and compute their inventory turnover ratio and explain if the ratios are consistent with their sector average.

Entrepreneurship

Units

Entrepreneurship Profession

Students interview one or more local entrepreneurs to select a mentor to work with during this course.
Working with their mentors, students determine what kind of impact these local businesses have had on the community.
Students brainstorm a list of personal interests that might be turned into a business, prioritize the list, and select an area of interest.
Students research the customs and culture of different countries to determine how they might impact their own business.

Develop a Business Plan

Types of Ownerships & Legal Aspects

Marketing Your Business

Global Markets & Business Ethics

Human Resource Management

Business Planning

Financial Management

Growth and Risk Management

Business and Personal Law

Units

Law and Justice

Students explain why laws are needed and identify the major sources of law in the United States.
Students apply legal principles to case studies.
Students describe the basic structure of the national and state court systems, identifying and defining different levels of courts and comparing their powers and jurisdictions.
Students identify typical state courts of specialized jurisdiction.
Students distinguish between a felony and a misdemeanor and determine several defenses to criminal acts.
Students distinguish between a tort and a crime and discuss a variety of intentional torts, negligence, and strict liability. They discuss remedies available to victims of torts and explain the stages of a civil suit.
Students complete a presentation, business report, or role-play to demonstrate their understanding of personal injury laws.

Contract Law

Students explain how offer and acceptance can create contractual rights and duties.
Students define and distinguish between different types of consideration and list the exceptions to the requirements of consideration.
Students describe a minor’s rights to avoid a contract and identify categories of people who lack contractual capacity. They describe the essential information that should be included in writing under the statute of frauds.
Students define the statute of limitations.
Students identify ways in which a contract can be discharged and describe the breach of contract and the remedies available when a contract is breached.
Students describe consumer protection legislation.

Property Law

Students identify and define classes of property and forms of ownership. They distinguish between real property, tangible personal property, and intangible personal property, including various types of intellectual property.
Students explain copyright law including the procedure for obtaining copyright, copyright infringement, and the fair-use doctrine.
Students identify and describe bailments, bailment relations, duties in bailments, and common bailments.
Students distinguish among liens, licenses, and easements.
Students discuss a real property, including the nature and transfer of ownership and others’ rights.

Employment Law

Students describe the employer-employee relationship and explain the rights and responsibilities of each.
Students explain the doctrine of employment-at-will and identify legislation that regulates employees’ rights and legislation that regulates employment conditions.
Students explain how agency relationships are created and describe how an agency relationship operates.
Students identify the qualifications, duties, and responsibilities of a principal and an agent. They explain the scope of authority.

Family Law

Students identify the issues and concerns that might be included in a prenuptial agreement.
Students distinguish between common law and ceremonial marriage and outline the law of domestic relations as it relates to spousal and child support.
Students explain the creation of a valid last will and testament, the orderly distribution of a decedent’s estate, and the process of modifying or revoking a will.
Students distinguish between the protections given to spouses and to children under the law of wills.

Personal Finance

Units

Fundamentals of Economics

Students research and explain how domestic and foreign economic systems and pricing theories of supply and demand affect people’s financial decisions.
Students explore the principles of saving and investing and incentives in a market economy.
Students identify how government policies and taxes as well as the actions of the Federal Reserve can impact an individual’s financial plans.

Planning Personal Finances

Students explore the benefits of financial planning, the importance of financial goals, and the factors that can influence personal financial planning.
Students consider external influences to consider when choosing a career, steps necessary to become successful in a career, and employees’ rights.
Students identify best practices in deciding to spend money and create a personal budget; students learn what financial documents individuals should keep.
Students research how to make informed purchase decisions and legal rights for consumers.

Banking and Credit

Students identify the fundamentals of banking including the following: the services that financial institutions offer, the methods of setting up a direct deposit and automatic payments, techniques for avoiding bank fees, the differences between savings accounts, certificates of deposit, and money markets, and methods of purchasing savings bonds.
Students explain the advantages and disadvantages of different types of checking accounts and the best way to manage a checking account.
Students learn about having good credit, the sources of consumer credit, credit options, calculating the cost of credit, and the importance of credit reports.
Students compare the value of renting versus buying a property and the rights of tenants and landlords.
Students learn the steps in buying a home and the various costs associated with it.